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1 Market summary

1.1 Market presentation

Luxury leather goods refers to the high-end component of the industry and trade in small leather goods bags, gloves, etc.

The luxury leather goods market remains dominated by the main luxury brands, leaving little room for new entrants.

The main source of growth in the luxury leather goods market remains China and its upper-middle class with high purchasing power.

 

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Latest news

Inauguration of a Hermès site in Riom, land of volcanoes - 17/09/2024
  • 1. Number of Hermès leather factories in France: 23.
  • 2. Frequency of new leather goods factories opened by Hermès: one per year.
  • 3. Length of training for a leatherworker at Hermès: 18 months for basic training, and 5 years to master the craft.
  • 4. Standard capacity of Hermès leather goods factories: 300 employees, including 260 craftsmen and 40 supervisory and support staff.
  • 5. Year Hermès launched its leather goods division: 1923.
  • 6. Change in contribution to Hermès sales: initially 55% from silk and 9% from leather goods; today, these percentages are largely reversed.
Chanel seeks new impetus with the departure of its artistic director - 06/06/2024
  • - The Chanel group employs over 36,500 people worldwide.
  • - Chanel sales 19.7 billion dollars in 2023
  • - Chanel sales rose by +15.8%.
  • - In the United States, Chanel sales rose by less than 3% to $3.9 billion.
  • - In Asia, Chanel sales rose strongly by 17.7% to $8.4 billion.
  • - Chanel's distribution network has doubled over the last five years.
Luxury: Chanel on the right track - 22/05/2024
  • - Chanel 2023 annual sales: $19.7 billion (approx. €18.2 billion), an increase of 14.6%.
  • - Workforce: 36,500 employees.
  • - Number of Chanel boutiques worldwide: over 600.
  • - Sales in Asia: $8.4 billion, up 17.7%.
  • - Sales in Europe: $4.7 billion.
  • - Sales in the United States: $3.9 billion, with growth of less than 3%.
  • - Number of Chanel stores in mainland China: 18.
Chanel investe ancora in Italia: nuova giunteria per Gensi Group - 29/02/2024

1. **Investimento Chanel nel Calzaturificio Gensi Group**: - Inaugurazione di un nuovo reparto di giunteria di 3.000 metri quadrati nel sito produttivo di Mosciano Sant'Angelo (Teramo). - Attivazione di 4 nuove linee di produzione da 70 metri ciascuna. - Attualmente, 6 linee di produzione sono in funzione, con un piano di raddoppio nei prossimi 3 anni attraverso l'inserimento di nuove risorse professionali. 2. **Iniziative Aziendali per la Sostenibilità**: - Formazione di 3 gruppi di lavoro dedicati alla sostenibilità ambientale dell'azienda un anno fa. - Riduzione dei consumi energetici e degli scarti di lavorazione. - Avanzamenti nel riciclo e riuso. - Avvio dell'istituto interno di formazione "M'Astri Nascenti" in collaborazione con Arsutoria School, con 60 persone formate fino ad oggi. 3. **Forza Lavoro e Piani di Assunzione**: - Attualmente, l'azienda ha oltre 660 collaboratori, dei quali oltre 120 sono orlatrici. - Sono previste nuove assunzioni per aumentare ulteriormente la forza lavoro. 4. **Produzione Chanel e Supply Chain Italiana**: - Le calzature Chanel sono progettate in Francia ma prodotte in Italia. - Aziende italiane controllate da Chanel implicate nella produzione: Roveda di Parabiago (acquisita nel 1999), Gensi di Giulianova (acquisita nel 2015), e Ballin Shoes (acquisita nel 2020).

Hermès continues to raise prices - 09/02/2024
  • - Hermès sales in 2023 will be 13.4 billion euros, up 16% on the previous year and 21% at constant exchange rates.
  • - Net income is up 28% to 4.3 billion euros.
  • - Hermès has a market value of 231 billion euros.
  • - Hermès has increased its prices by 8 to 9% in 2023.
  • - 22,000 Hermès employees worldwide.
  • - More than 60% of new jobs created in France, where Hermès manufactures three quarters of its products.
Fashion: how Prada reinvents itself - 13/01/2024
  • Prada was founded in 1913 by brothers Mario and Martino Prada.
  • By 2023, Prada's retail sales have increased by 13% compared to 2022.
  • The luxury goods market is expected to see around 40% of its global sales absorbed by China by 2030, according to Bain & Company.
  • Prada created its own foundation in 1995, which is located in Milan.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

LVMH Vins et Spiritueux
Hermès International
Prada Groupe
Chanel
Michael Kors
Mulberry
Burberry
Farfetch
Walpole
Kering

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the luxury leather goods market | United Kingdom

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